Setting Up Installments for Payment Term Codes

Access the Installment Revision form.

No of Equal Payments (number of equal payments)

Enter the number of transactions to be processed.

The system calculates the percentage of the installment based on the number in this field. For example, if you enter 5, the system generates 5 installments for 20 percent. If the number that you enter does not divide equally into 100, the system assigns the unequal percent to the last installment.

Percent of Installment

Enter a percentage of the invoice that the system will use to generate one installment payment. You can divide the total amount of the discount into as many installments as necessary. The installments do not have to be equal, but they must equal 100 percent of the invoice total amount. Unlike typical split payments, you can create installments using variable percentages. You do not need to enter decimals. If the installment is 20 percent, enter the percent as the whole number 20.